SHANGHAI, China, Oct. 12, 2020 (GLOBE NEWSWIRE) — Molecular Data Inc. (“Molecular Data” or the “Company”) (Nasdaq: MKD), a leading technology-driven platform in China’s chemical industry, hosted a celebration ceremony in Zhengzhou, Henan province on October 10, 2020, to mark the 100th day since the inception of the Company’s subsidiary, Henan ZEMolbase Data Service Co., Ltd. (“ZEMolbase”).
Leveraging ZTE Corporation’s 5G telecommunication technology and Molecular Data’s extensive industry expertise in the chemical industry, ZEMolbase was founded jointly by the two companies with a goal to provide comprehensive services and one-stop solutions to customers and stakeholders along the entire chemical value chain and support the digitalization of traditional chemical industry.
“The Industrial Internet is an important cornerstone of the 4th Industrial Revolution and 5G is the key driver for the digitalization of industrial society. ZEMolbase was formed to ride on the trends of rapid development of Internet of Things and imminence of the 5G era,” said Dr. Dongliang Chang, Founder of the Company and Chairman of the Board. “In addition, benefitted by a series of recent encouraging government policies, we are looking forward to supporting the revolution of the chemical industry.”
During the ceremony, ZEMolbase unveiled its new product, Lingshi 1.0, a comprehensive solution designed to satisfy customers’ diverse needs in chemical products management, operations and monitoring. This product was developed following in-depth study and close cooperation with several leading scientific institutions and telecommunication companies including Chinese Academy of Sciences, Henan Institute of Emergency Management Science and Technology, and China Mobile Limited, etc.
As a management tool targeting the full lifecycle of chemical products, Lingshi 1.0 provides technological support to customers including suppliers and purchasers, industrial park managers, as well as industrial supervisors, covering operational areas of production, sales, logistics and warehousing, in full concert with relevant regulatory requirements of the chemical industry. In addition, Lingshi 1.0 includes broad-based functionalities, features and modules designed to help with industry-specific operations. These include platforms for the following: industrial IoT, industrial park management, chemicals trading and hazardous chemicals logistics supervision. Additional service features include supply chain services, chemical standardization traceability, storage and transmission supervision and industrial internet construction.
About Molecular Data Inc.
Molecular Data Inc. is a leading technology-driven platform in China’s chemical industry, connecting participants along the chemical value chain through integrated solutions. The Company delivers e-commerce solutions, financial solutions, warehousing and logistics solutions, and SaaS suite that are intended to solve pain points for participants in the traditional chemical industry. Built upon a comprehensive knowledge engine and artificial intelligence (AI) capabilities, the Company’s e-commerce solutions are mainly offered through its online platform, consisting of molbase.com, molbase.cn, Moku Data WeChat account, Chemical Community App and other ancillary platforms.
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